Saxo Bank Update Default Order Duration on GO & PRO Platforms

Saxo Bank has announced a change to the Trade Ticket feature on its GO and PRO trading platforms, which will take effect from Monday, 4 November 2024. The update will alter the default order duration from the current “Good till Canceled” (GTC) setting to “Day Order” for new trades.

This modification will only apply to instruments that users have not previously traded. For any instruments where an order has already been placed, the last-used order duration will remain in place. Therefore, users who have been utilizing the GTC option will continue to do so for those specific instruments unless they choose to update the order duration manually.

Saxo Bank Update Default Order Duration on GO & PRO Platforms

For traders placing orders for new instruments after the 4 November update, the system will automatically set the duration to “Day Order.” If they wish to change this to GTC, they can do so during the order placement process, and the new setting will become the default for future trades of that instrument.

It is important to note that this change does not impact other order functionalities, such as Take Profit and Stop Loss, which will continue to operate as usual.

Saxo Bank’s decision to implement this update aims to standardize order durations for better consistency and to streamline the trading experience, particularly for new instruments. The change ensures that orders are automatically going to expire at the end of the trading day unless specified otherwise, offering a more flexible approach to managing orders for day traders.

The update will be automatically available to all Saxo Bank users on the affected platforms, so traders must familiarize themselves with the new default setting and adjust their order durations when placing trades after 4 November.

Company Overview

Saxo Bank stands out as a premier multi-asset broker, offering exceptional research capabilities and an exceptional trading platform, along with an impressive array of over 70,000 tradable instruments, which include spot forex, FX options, NDFs, CFDs, stocks, stock options, exchange-traded funds, ETNs, futures, and 33,000 bonds. For engaged traders, Saxo Bank offers a comprehensive and immersive trading journey, boasting an extensive toolkit, research resources, and premium features.

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